Bayern Kapital supports innovative technology start-ups in all founding phases - from the seed phase to the IPO. Our investment approach is clearly designed for long-term corporate success and sustainable value generation, rather than for quick returns. As a responsible partner, we can be relied on to support our portfolio companies, even in economically difficult times.
In addition, Bayern Kapital is a public investor and, as a subsidiary of LfA Förderbank Bayern, is committed to the LfA's sustainability principles of compliance with the corporate guidelines of environmental, social and corporate governance (ESG).
Bayern Kapital is a signatory of the Diversity Charter and is thus committed to the inclusion of ESG factors in investment decisions. This also means that we have a responsibility. We carefully examine where and how we invest. It is crucial for us that funded start-ups have a governance structure in place and adhere to ethical standards. Through due diligence according to clear criteria, we create transparency and security for founders, co-investors and stakeholders.
The environmental sustainability of our portfolio companies is very important to us. For this reason, we have set up a separate checklist for ESG due diligence for more mature start-ups and scale-ups in the Later Stage funds. This checklist covers various environmental aspects, such as energy efficiency, waste management, water consumption and greenhouse gas emissions. We also offer workshops in the areas of money laundering and fraud prevention as well as securities compliance.
The fact that sustainability and innovation can be well combined in the business model is shown by these examples:
DeepDrive develops high-performance electric drive systems that can extend ranges or reduce the required battery capacity in electric vehicles. The company's solutions not only increase the sustainability of electric mobility, but are also cost-effective and scalable, making them accessible to a wider market.
Delicious Data has developed software for the intelligent prediction of food demand and consumption for bakeries, the food industry, commercial kitchens and system catering. The platform uses artificial intelligence to combine historical data from companies with external influences (such as weather or holiday periods) to calculate future sales. On this basis, the user can calculate the cost of the product and control the use of goods. In this way, an average planning improvement of 40% can be achieved. With its innovative solution, Delicious Data makes it possible to save costs and reduce the overall waste of valuable food.
The Bavarian company has been developing sophisticated, minimalist drive systems for bicycles for 10 years now. The product combines motor and battery in one package, is extremely light and slim, virtually noiseless and can be elegantly integrated into the down tube of the bike. Fazua has thus established the minimalist assist drive or light e-bike segment - and set a benchmark. The business model shows how climate-friendly mobility can be successfully combined with high-tech.
Insempra is a biotechnology company that enables the industry to replace chemical production processes and petrochemically produced ingredients with sustainable alternatives. Insempra offers the cosmetics, personal care, food and fashion industries, for example, the opportunity to manufacture their products with bio-based ingredients and thus supports leading global brands in their sustainable transformation. For better products, for a better future and for a healthier planet.
OCELL is a Munich-based climate tech start-up that specializes in the development of nature-based, technologically supported climate protection solutions. The focus is on the sustainable use of forests for long-term CO₂ sequestration. With the help of artificial intelligence and digital forest twins, we enable data-supported, transparent and measurable forest management with verifiable climate benefits. Our technology is currently being used to manage over 800,000 hectares of sustainably managed forest areas in eleven countries.
The food company Planet A Foods GmbH uses the most innovative preparation processes to develop sustainable, future-proof food ingredients that can be produced independently of highly limited resources such as cocoa. The company relies exclusively on natural ingredients. As a supplier, Planet A Foods contributes to a socially just and environmentally friendly food industry. The start-up's portfolio includes the world's first cocoa-free chocolate alternative ChoViva, which is made from sunflower seeds.
The Electric Car Scheme is an employee benefit that allows employees to use electric cars at 30-60% less cost. The Electric Car Scheme is the first available offer from parent company Net Zero Choices. The company was founded in June 2020 after co-founders Thom Groot and Tom Eilon realized that the government's tax incentives for employees who want to switch to electric cars and drive environmentally consciously were not available.
Marvel Fusion, founded in Munich in 2019, is developing a sustainable solution for the commercialization of fusion energy. The technology is based on ultrashort pulse lasers and nanostructured propellants and has been demonstrated in experiments over five years. Together with Colorado State University, Marvel Fusion plans to build a 150 million dollar demonstration plant by 2027. With 120 million euros in equity and 150 million euros from public projects, the company is pushing ahead with the development of a fusion power plant in the 2030s.
As the first spin-out of the Max Planck Institute for Plasma Physics, Proxima Fusion is accelerating a paradigm shift in the energy sector. The Munich-based start-up builds on the pioneering W7-X experiment in Germany and is developing the world's first QI stellarator power plant using high-temperature superconductors. The declared goal is to tap into the universe's ultimate energy source to generate continuous and reliable emission-free energy. Engineers and scientists from organizations such as the Max Planck Society, MIT and Google have founded Proxima Fusion 2023 to lead Germany, Europe and the world into a new era of clean energy.
SPiNE GmbH from Munich is a start-up for digital energy solutions, founded in February 2024. SPiNE develops an application platform on which regulatory, grid-supporting and market-oriented energy applications can be easily installed and operated at the end customer's premises. SPiNE uses the smart meter infrastructure including the CLS channel to securely control systems; SPiNE also offers simple integration of energy management systems, always in line with the end customer's system constellation. SPiNE has a 100% software focus and is compatible with smart meter gateways, CLS devices and alternative hardware installed in the meter cabinet or behind the grid connection point.
ubiMaster offers more than 500,000 students in German-speaking countries individual learning and tutoring via chat or video call with qualified, multi-vetted tutors. The service covers the most important core subjects, is available daily, and is aimed at all secondary schools. Since its founding in 2018, the family-run company has pursued its vision of providing all children with access to high-quality education, regardless of their social background. For its innovative concept, ubiMaster has been awarded the Comenius EduMedia Seal and received funding from the BMBF, among others.
Pulsetrain is developing an AI-powered, highly integrated battery and power electronics platform that makes electric vehicle batteries last longer, safer, and more efficient.
EcoG is a leading B2B technology company for charging infrastructure with locations in Munich and Detroit. The company offers reference designs and a standardized operating system for fast charging stations, as well as one of the world's fastest-growing platforms for manufacturers. The EcoG platform enables manufacturers to efficiently produce charging infrastructure and operators to seamlessly integrate their charging parks—from car fleets to large logistics and truck hubs—into business processes. EcoG operates over 25,000 systems worldwide, drives standardization for bidirectional and megawatt charging, and holds approximately 15% market share in Europe and 11% in India. Customers include Siemens, ABB, Valeo, and Dover Fueling Solutions.
Enmacc is Europe’s largest OTC market venue for energy and environmental commodities. Built by traders, for traders, Enmacc digitises the energy trading process to provide superior liquidity and trading experience to market participants. Their market venue allows market participants to execute trades with unparalleled speed, efficiency, and security. They count over 500 member companies and 2000 active traders trading power, gas, and environmental commodities including Guarantees-of-Origin and Emissions Allowances. Enmacc's market venue attracts a vibrant network of energy suppliers, trading houses, industrial companies, and municipal utilities.
Immunic is a biotechnology company developing orally available therapies for the treatment of chronic inflammatory and autoimmune diseases. Three small molecule programs are currently in development, including vidofludimus calcium (IMU-838), a selective immunomodulator with anti-inflammatory, antiviral, and neuroprotective properties, which is currently in Phase 3 trials for the treatment of relapsing-remitting multiple sclerosis and in Phase 2 trials for progressive multiple sclerosis. The pipeline is complemented by IMU-856, a SIRT6 modulator for the treatment of gastrointestinal diseases, which is being transferred to Phase 2 development following successful Phase 1b data, and the preclinical program IMU-381, which also focuses on gastrointestinal diseases. Immunic is headquartered in New York, traded on NASDAQ (IMUX), and manages its research and development activities from Gräfelfing.
inContAlert is developing an innovative technology for continuous monitoring of bladder fill levels in incontinence patients. While conventional solutions rely on time-based emptying or inaccurate ultrasound measurements, inContAlert enables convenient 24/7 monitoring using a portable sensor that is simply placed on the body and uses electrical signals for measurement. The data is evaluated in an app and helps patients identify the optimal time for bladder emptying. In this way, inContAlert improves the quality of life of those affected, reduces health risks, relieves the burden on nursing staff, and sustainably lowers costs in the healthcare system.
Founded in 2020 and based in Munich and Boston, mbiomics GmbH is a private biotechnology company developing a new generation of complex live bacterial therapeutics. By combining proprietary precision analytics and patient data, mbiomics is building a pipeline of rationally selected microbial communities to enable indication-specific and patient-adaptive therapies. This is based on proprietary, high-precision profiling technology for the rapid and quantitative analysis of the microbial composition of human samples, which supports both the development of effective and safe therapeutic consortia and patient selection and monitoring in clinical trials. The goal is to harness the immunological and metabolic potential of the gut microbiome for therapeutic use.
smartbax is developing a new generation of antibiotics to combat the increasing spread of multi-resistant bacteria. The company's team of experts is advancing a complementary pipeline of innovative active substances that are also effective against novel bacterial target structures and circumvent resistance. The company's main drug candidate is a novel inhibitor of lipopolysaccharide synthesis in Gram-negative bacteria. In addition, the company specializes in the targeted activation of enzymatic processes that trigger a self-digestion process in bacteria – an approach that is particularly promising in the context of difficult-to-treat biofilms. Two such activators are currently in development, targeting both Gram-positive and Gram-negative bacteria.
tado° was founded with the goal of making heating and cooling systems in private households more energy efficient and has created a new market as a manufacturer-independent platform. tado°'s smart thermostats and services are compatible with over 95% of heating and cooling systems in Europe and have already been sold more than three million times, helping customers reduce their energy consumption by an average of 22%. With the acquisition of dynamic electricity tariff pioneer aWATTar, tado° has driven forward its expansion into a comprehensive energy management platform. Using a central software solution, tado° optimizes energy use for heating, heat pumps, and electric car charging, enabling average cost savings of over a third while promoting the energy transition.
TRiCares is developing Topaz, an innovative, minimally invasive heart valve for the treatment of patients with severe tricuspid heart failure, for whom there are currently few treatment options. The biologically based valve is made from pig tissue and sewn onto a special nickel-titanium scaffold, which can be gently implanted using a specially developed catheter. Initial clinical trials are already underway in Europe, with over a dozen patients successfully treated and showing significant improvements in their quality of life. Once clinical trials are complete and approval has been granted, Topaz is expected to benefit patients for whom open heart surgery is too risky.
Tubulis is developing unique antibody-drug conjugates (ADC’s) for a range of solid tumour indications. To this end, the company utilises its own technology platform which enables ADC’s to be generated flexibly and in line with the requirements of the individual indication. This increases the therapeutic potential of the ADC’s and addresses the central limitations of existing ADC technologies in terms of toxicity, efficacy and limited indication selection. In combination with sound biological know-how and new mechanisms of action, Tubulis is generating a pipeline of versatile ADC candidates that have the potential to expand the current range of applications of ADC’s and enable more targeted drug delivery. The company’s goal is to use this innovative approach to unlock the full therapeutic potential of ADCs in order to improve treatment outcomes for a large number of cancer patients.
With its ImpactMonitor™ platform, XO Life is developing a globally unique meta-platform for digital product and therapy support for patients. During use or therapy, patients receive verified medical content and personalized insights, record their health history, and exchange information with experts and other affected individuals. Manufacturers can offer their own branded product and therapy areas on the platform, thereby providing targeted support for therapy success, therapy adherence, and application safety. XO Life is one of the leading digital health startups in Germany and Europe, works with international manufacturers in over 30 indications, and now offers its platform in all languages across Europe.
Vantis is a Munich-based company and a pioneer in digital healthcare. The company addresses one of the biggest challenges in the German healthcare system: more patients, fewer doctors. Through the targeted use of digital technologies and innovative treatment methods, Vantis combines the best of medicine, technology, and efficient practice organization. To this end, Vantis is investing in its own network of general medical practices to ensure comprehensive, future-proof medical care.
Twogee Biotech is a biotechnology company founded in 2024 and based in Martinsried, Munich. Based on an innovative platform, the company develops customized enzyme and strain solutions for the industrial conversion of biogenic side streams and residues into sustainable second-generation raw materials. Twogee enables the efficient utilization of biomass side streams and the chemical industry's transition to circular, low-carbon value creation – economically, scalably, and customer-oriented.
Bayern Kapital is a long-standing sponsor and juror of the Bavarian business plan competitions and is very committed to networking and promotion. As a member of the VBU Association of Women Executives in Biotechnology Companies, we are also committed to gender equality. This goes not only for our portfolio companies but also for our own company.
For many years, Bayern Kapital has had a consistently high proportion of female employees in training and management positions. Currently, almost half our team is female.